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Cougar Energy Replaces ASOP Funding With Share Placement

Cougar Energy (ASX: CXY) clarified this morning that it has elected to postpone the receipt of tranche amounts for the period of three months under the Security Purchase Agreement with The Australian Special Opportunity Fund LP.

For the time being, this funding has been replaced by the share placement announced on 21 February 2013.

The company said it intends to review its external funding strategy after the publication of the maiden JORC resource for the Mackenzie coal tenement in Queensland.

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